“The approximately A$25 million capex for this project will be accommodated within the previously disclosed Lynas Malaysia Industrial Plan,” it said in a statement.
Lynas stated that a new process is expected to produce separated Dysprosium (Dy) and Terbium (Tb) at Lynas Malaysia for the first time, complementing its existing range of Light Rare Earths products.
It said Dy and Tb are essential to high-performance rare earth permanent magnets used in electric vehicles and high-tech applications such as micro-capacitors which are crucial to all electronic devices.
“Currently, Dy, Tb, and other HRE oxides from the Mt Weld ore body are sold as a mixed HRE compound known as Separation of Heavy Rare Earths (SEGH).
“The reconfiguration of one of Lynas Malaysia’s solvent extraction circuits will facilitate the production of Dy and Tb,” it said.
Lynas said the new circuit is designed with the capacity to separate up to 1,500 tonnes of SEGH per year.
“Front-end engineering design (FEED) has been completed and detailed engineering design is under way, with commissioning and ramp-up expected in mid-2025.
“As a result of the separation of Dy and Tb from the SEGH compound, Lynas’s HRE product range will increase to five products: Dy, Tb, unseparated samarium/europium/gadolinium, holmium concentrate, and unseparated SEGH,” it said.
At the same time, it said Lynas is progressing pre-construction activities for its planned US Rare Earths Processing Facility.
It said both Lynas Malaysia and the planned US Rare Earths Processing Facility have been designed to accept third-party feedstocks as they come online.
Meanwhile, Lynas CEO and managing director Amanda Lacaze said the initial separation of HRE at its Malaysian Facility was an exciting development for the company and the first step towards offering an expanded suite of HRE products.
“Lynas’s Mt Weld deposit is remarkable for its endowment of HRE minerals as well as Light Rare Earth minerals.
“This circuit reconfiguration at Lynas Malaysia provides a pathway to accelerate our commitment to processing all of the elements in the Mt Weld ore body,” she said.